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How to Buy Bitcoin & Cryptocurrency on PayPal (Full Tutorial) - YouTube
Channel: BitBoy Crypto
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everybody knows by now you can buy and
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sell cryptocurrency
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on paypal but what does this mean for
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crypto
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at large is this good for new investors
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we're going to talk about that today
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i'm also going to do a quick tutorial on
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how you do it
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how do you buy bitcoin or other
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cryptocurrencies on paypal if you've
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never done it before
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well i'll show you how today and it's
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actually easier than you think
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let's get it
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welcome to bitboy crypto my name is ben
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every day on this channel i show
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you how to make money in cryptocurrency
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if you like money make sure to go ahead
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and hit that subscribe button
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become a member of the bit squad 142k
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subscribers
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not too shabby also if you're watching
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this video because it's a tutorial and
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you really want to know
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how to buy bitcoin at crypto but you're
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super new super fresh
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uh you guys can check out
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crypto4dudes.com that's with the number
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four
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here you can find my beginners crypto
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course called the regular guys guide to
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crypto
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where j chains and i lay out to you guys
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some of the very simple basic concepts
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that you're going to have to know if
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you're going to be able to make that
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life changing money
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so guys let's head on over here to
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paypal so i actually created an account
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recently a personal account because i
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only had business accounts
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uh so i could try this out and it's
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pretty easy to do
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you guys can see my recent activity over
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here uh it's showing up
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my bitcoin purchases and my ethereum
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purchase that i made
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notice it doesn't separate out crypto
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um it basically just says recent
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activity and has it all listed over here
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i think this is important that combined
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with the fact when you look at this
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you see paypal balance crypto right
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underneath it
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this is not something the paypal is
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going to be
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debuting not putting a lot of attention
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they have seen what square has done cash
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app has done
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and they want a piece of that crypto and
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bitcoin aims to be
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a major part of the paypal
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business from now on i definitely
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believe that for
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100 percent so on our summary page
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you guys see the your crypto box what
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we're going to do
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we're going to click buy and sell and
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this is going to take us to what i call
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the portfolio page this shows you what
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crypto you have right now
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there's only four possibilities bitcoin
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ethereum bitcoin cash and litecoin
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uh bitcoin the original cryptocurrency
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started in 2009
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by satoshi nakamoto in in response to
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the 2008 financial crisis
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aetherium bitcoin cash and litecoin
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are all altcoins how do you know
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something is an altcoin
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it's not bitcoin it's pretty simple
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bitcoin rules the market it's about 65
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of the overall crypto market right now
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every other coin
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is called an altcoin uh so
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right now you guys can see i have 39.93
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in bitcoin and 19.93 uh
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in ethereum if you own a cryptocurrency
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on paypal it's going to show up on this
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side up here
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uh if you don't it's going to show up
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down here now these are three
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really respectable all coins they've all
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been consistently in the top 10 of
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cryptocurrencies since they debuted
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so right now what we're gonna do i'm
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gonna show you how to buy
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bitcoin now before we actually move on
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to buy bitcoin
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they have to learn more about crypto
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section this is pretty cool they're very
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quick reads five minutes one minute
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three minute five minutes
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and it goes on from there i think
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there's about 12 or 13 of them let's
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actually count them
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i think it's 12. man my county is good
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it's 12.
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uh it talks about what's crypto a
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frequently asked questions page
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how to get started it talks about the
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differences between all the coins
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uh volatility crypto versus donks uh
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there's a glossary because i tell you if
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you're not in the crypto culture
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it's really easy to get mixed up with
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what people are talking about and of
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course you're definitely going to want
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to know what blockchain is the
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underwriting
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technology of cryptocurrency or at least
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most
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cryptocurrencies don't worry about what
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i just said there
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that might take you down a rabbit hole
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so here we are
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let's go ahead and click buy and you can
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see it shows
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a chart bitcoin's down about 2.39
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percent today not too great we know we
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don't like to see that for our
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portfolios
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we'd like to see it when we're getting
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ready to buy so definitely pretty cool
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um so right now uh
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the charts are broken down default by
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the last 24 hours
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so this is the last day of action you
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can also check out the last chart or the
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chart from the last week
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from the last month six months one year
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and the all-time chart you guys can see
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where we're heading to
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up here all-time highs gonna be in the
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next couple of months i do
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firmly believe so once you've looked at
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the chart you decide which one you want
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to buy
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you just click buy and then you hit the
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amount let's say uh
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let's go crazy i'm gonna buy a hundred
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dollars
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worth of bitcoin here's my debit card
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four two eight five that's the last four
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digits
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if anyone can steal money from my bank
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account
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uh with the last four digits of my debit
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card i will buy you a milkshake
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all right so let's hit next this is the
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review page
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it shows you uh what card you're
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purchasing with
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shows you how much you're buying we're
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buying .006 btc
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uh bitcoin can be broken down into 10
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million parts
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uh something or 100 million parts excuse
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me
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uh the price per bitcoin fifteen
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thousand eight hundred eighty seven
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dollars
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the price us dollars of one hundred
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dollars
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and then what i actually pay no
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transaction fees there's no transaction
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fees
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with bitcoin on paypal for the rest of
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this year
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but be careful if you think you're going
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to come on here buy a bunch of bitcoin
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for no transaction fees and then leave
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and do something else with it
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you got another thing coming uh we're
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gonna explain that here in just a second
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so i click buy now and boom it pops up
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at the top shows us how much we bought
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we go back to our portfolio here it is
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139.92
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worth of bitcoin in my wallet now what
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am i going to do with this bitcoin
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well that's what a lot of people are
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upset about because right now
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you can't do anything with it you're
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currently not able to send crypto assets
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to friends or family
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use crypto assets to pay for goods or
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services or withdraw crypto assets from
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your cryptocurrencies hub
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to an external cryptocurrency wallet
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this is kind of like the training wheels
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if you're new to crypto
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and you you want to learn how to buy
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bitcoin you want to learn how to buy all
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coins on paypal
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that's fine i welcome that but it needs
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to be
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like riding a bike with training wheels
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you're not gonna be able to do much with
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your crypto when you have it on
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a service like paypal that's not
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allowing you to withdraw it to other
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wallets
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that means you'll never be able to trade
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it you're not actually in possession
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of your own private keys in crypto we
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call that
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not your keys not your crypto if you're
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not in possession of the backend
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password to your wallet
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where you can actually move the bitcoin
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is it really yours and that's a
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fundamental and philosophical question
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that a lot of people in crypto have
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about the way that paypal has done
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things
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but just like a training a bike with
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training wheels
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you work up to ride on your own so learn
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about
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exchanges like coinbase uh or finance us
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or kucoin those are places to start
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learning how to exchange cryptocurrency
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uh learning how to send cryptocurrency
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back and forth uh and then from there
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who knows maybe you'll end up on a
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decentralized exchange one day
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which can kind of get crazy so let's
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take it baby steps at a time
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if you're gonna buy on paypal it's okay
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i'm not gonna criticize you
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i think what they're doing overall is
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gonna be beneficial to the entire
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crypto space but the way that they store
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it
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and the way you don't own your own
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bitcoin when you're
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buying through paypal uh it is not the
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optimal way so you gotta try to figure
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out do your own research
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and learn what that optimal way is
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alright guys that's all i got
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be blessed
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you
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